U.S. Carbon Capture, Utilization, and Storage Market to Reach USD 5.09 Billion by 2033, Led by ExxonMobil, Shell, Equinor ASA, and Fluor Corporation

The U.S. Carbon Capture, Utilization, and Storage (CCUS) Market was valued at US$ 1,865.05 million in 2024 and is projected to reach US$ 5,089.39 million by 2033, expanding at a CAGR of 11.8% during the forecast period (2025-2033).

The U.S. holds a strong strategic position in the global CCUS landscape, supported by federal incentives such as the 45Q tax credit, rapid adoption of carbon capture technologies in hard-to-abate sectors (power generation, cement, steel, and chemicals), and growing investment in large-scale CO2 transportation and permanent geological storage networks. The market is evolving into a core pillar of the nation's long-term decarbonization and clean energy goals, accelerating demand for capture, utilization, and sequestration solutions.

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The Carbon Capture, Utilization, and Storage (CCUS) Market involves technologies and systems that capture CO2 emissions from industrial sources, utilize them in value-added applications, or securely store them underground to reduce carbon footprints and support climate goal

Key Developments

✅ October 2025 (United States): The Trailblazer CO2 pipeline became operational, enabling commercial transport of captured CO2 from several Midwest ethanol facilities to a dedicated geological storage site. The milestone significantly boosts U.S. CCUS infrastructure capacity and strengthens regional carbon-management networks.

✅ October 2025 (United States): The annual Global Status of CCS 2025 assessment highlighted a sharp rise in operational, under-construction, and planned CCUS projects across the U.S., indicating stronger investment flows, regulatory support, and accelerated deployment activity.

✅ August 2025 (United States): New regulatory insights and policy guidance were released concerning federal and state permitting for CCUS projects. The clarifications helped project developers streamline compliance, particularly around Class VI injection well permitting and tax-credit eligibility.

✅ October 2025 (Japan): Japan hosted a national CCUS summit, strengthening collaboration among technology providers, energy companies, and policy agencies. The event emphasized commercialization, regional partnerships, and deployment in power generation and hard-to-abate sectors.

✅ October 2025 (Japan): Japan advanced diplomatic and industry-level initiatives promoting CCUS adoption across Asia. Stakeholders highlighted CCUS as central to Japan's long-term decarbonization and energy-security strategy.

✅ June 2025 (Japan): Japan's gas industry bodies updated decarbonization frameworks, formally integrating natural gas with carbon capture as a viable transition pathway. This move reinforced CCUS as a cornerstone of Japan's industrial and energy-sector planning.

Mergers & Acquisitions

✅ April 2025 (United States): A U.S. energy company completed a strategic acquisition of subsurface acreage and related assets to expand its CCUS project portfolio. The deal enhances long-term storage capacity and positions the company to participate in multi-state carbon-management networks.

✅ August 2025 (Japan): Japanese energy and industrial investors executed overseas strategic acquisitions linked to CCUS-aligned infrastructure and technology partnerships. These moves strengthen Japan's position in global CCUS supply chains and support technology transfer for domestic deployment.

✅ May-October 2025 (United States & Japan): Multiple U.S. and Japanese energy, utility, and industrial groups formed cross-border alliances to co-develop CO2 transport, storage, and utilization hubs. These collaborations expand project financing, derisk large-scale CCUS developments, and accelerate commercialization.

Key Players:

ExxonMobil Corporation | Schlumberger | Huaneng | Linde AG | Sulzer | Equinor | NRG | Aker Solutions | Mitsubishi Hitachi | Skyonic Corp.

Key Highlights :

• ExxonMobil Corporation - Reported USD 344.6 billion in 2024 revenue, driven by strong upstream performance, carbon management initiatives, and expansion in low-carbon technologies including CCUS.

• Schlumberger - Achieved USD 34.0 billion in 2024 revenue, supported by growth in subsurface technologies, carbon storage services, and digital integration solutions for large-scale CCUS projects.

• Huaneng - One of China's largest power generation companies with CNY 245+ billion in annual revenue; continues expanding large coal-to-clean-energy transitions including CCUS demonstration facilities.

• Linde AG - Recorded USD 33.0 billion in 2024 sales, driven by strong demand for industrial gases and rapid growth in carbon capture, hydrogen, and clean-energy infrastructure solutions.

• Sulzer - Generated CHF 3.3 billion in 2024 revenue, with strong demand for separation, pumping, and carbon capture equipment across energy and industrial sectors.

• Equinor - Reported USD 89.0 billion in 2024 revenue, with major investments in CCS hubs such as Northern Lights and low-carbon energy transition projects across Europe.

• NRG - Achieved USD 28.0 billion in 2024 revenue, continuing to scale decarbonization solutions and exploring carbon capture retrofits across its U.S. power generation assets.

• Aker Solutions - Recorded NOK 37.5 billion in 2024 revenue, driven by strong offshore engineering capabilities and leadership in carbon capture technologies in Europe.

• Mitsubishi Hitachi - A major Japanese energy technology company (Mitsubishi Heavy Industries Power / MHPS) generating JPY 4+ trillion in 2024 revenue; continues expanding CCUS, clean combustion, and next-generation power systems.

• Skyonic Corp. - A privately held U.S. company focusing on mineralization-based carbon capture technologies; financials undisclosed but recognized for industrial carbon removal innovations.

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Market Drivers & Growth

- Increasing global focus on achieving net-zero emissions targets is driving accelerated adoption of CCUS technologies across major industries.

- Stricter environmental regulations on carbon-intensive sectors-such as power generation, cement, steel, and chemicals-are pushing companies toward large-scale CO2 mitigation solutions.

- Growing investments from governments and energy companies are supporting pilot projects, scale-ups, and commercial CCUS facilities.

- Rising demand for low-carbon hydrogen (blue hydrogen) is boosting CCUS deployment for reforming and gas processing applications.

- Advancements in carbon capture efficiency, cost reduction technologies, and transport/storage infrastructure are strengthening market expansion.

Industrial Advances & Developments

- Development of next-generation capture systems, including solvent-based, solid sorbent, and membrane technologies with better efficiency and lower operating costs.

- Expansion of carbon utilization pathways such as synthetic fuels, carbonated building materials, polymers, and enhanced oil recovery (EOR).

- Growth of large-scale geological storage hubs, including saline aquifers and depleted oil & gas fields.

- Increased use of digital monitoring tools and predictive analytics to optimize CO2 injection, pipeline transport, and long-term storage performance.

- Partnerships among energy companies, industrial manufacturers, and technology developers to build integrated CCUS networks.

Regional Insights

- North America: Leading region with strong policy support, large industrial emitters, and multiple operational CCUS facilities, especially in the U.S. and Canada.

- Europe: Rapid growth driven by EU climate goals, cross-border CO2 transport initiatives, and major projects in Norway, the UK, and the Netherlands.

- Asia-Pacific: Fastest-growing region, led by China, Japan, South Korea, and Australia, focusing on industrial decarbonization and hydrogen production.

- Latin America: Emerging interest driven by potential geological storage sites and new industrial partnerships.

- Middle East: Increasing deployment linked to low-carbon hydrogen production, large industrial complexes, and favorable geological storage conditions.

Key segments
➥ By Service
Capture drives the market as industries prioritize cutting emissions at the source. Transportation and Storage expand with rising investments in CO2 pipelines and geological storage sites. Utilization grows steadily with increased interest in converting CO2 into fuels, chemicals, and materials.

➥ By Technology
Post-combustion capture dominates due to easy integration with existing industrial facilities. Pre-combustion capture grows in cleaner hydrogen and power projects, while Oxy-fuel combustion gains traction for high-purity CO2 output in energy-intensive industries.

➥ By End-User
Oil & gas and power generation lead adoption as they face the highest emission-reduction pressures. Cement, iron & steel, and chemicals rapidly scale CCUS deployment to meet decarbonization targets. Others adopt gradually as technologies become more cost-effective.

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